TP5 VCT PLC Interim Management Statement Replacement (9376N)
01 August 2014 - 1:20AM
UK Regulatory
TIDMTP5
RNS Number : 9376N
TP5 VCT PLC
31 July 2014
COMPANY NAME ALTERATION
The Interim Management Statement announcement released on 31
July 2014 at 16.07 under RNS No 9359N should have been issued under
the Company name of TP5 VCT plc and not under the Company name of
Triple Point Income VCT plc.
The announcement text is unchanged and is reproduced in full
below.
TP5 VCT plc
31 July 2014
Interim Management Statement for the quarter ended 30 June
2014
TP5 VCT plc ("the Company") has pleasure in submitting its
Interim Management Statement for the quarter ended 30 June 2014.
This constitutes the Company's first Interim Management Statement
for the year ending 31 March 2015, as required by the UK Listing
Authority's Disclosure and Transparency Rule 4.3.
Net assets at 30 June 2014 comprised:
30 June 2014 31 March 2014 30 September 2013
Unaudited Audited Unaudited
------------------------------ ------------------------------ ------------------------------
Ordinary Ordinary Ordinary
Shares B Shares Total Shares B Shares Total Shares B Shares Total
--------- --------- -------- --------- --------- -------- --------- --------- --------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying
unquoted investments 15,339 1,896 17,235 15,340 1,895 17,235 15,037 1,858 16,895
VCT non qualifying
unquoted
investments - - - 3 1 4 3 1 4
--------- --------- -------- --------- --------- -------- --------- --------- --------
15,339 1,896 17,235 15,343 1,896 17,239 15,040 1,859 16,899
--------- --------- -------- --------- --------- -------- --------- --------- --------
VCT non qualifying
investment
in GAM Diversity
2.5XL - - - - - - - 1,068 1,068
--------- --------- -------- --------- --------- -------- --------- --------- --------
Cash and cash
equivalents 270 1,210 1,480 101 646 747 49 85 134
--------- --------- -------- --------- --------- -------- --------- --------- --------
Total investments 15,609 3,106 18,715 15,444 2,542 17,986 15,089 3,012 18,101
--------- --------- -------- --------- --------- -------- --------- --------- --------
Other assets
& liabilities (112) (8) (120) 36 565 601 84 15 99
--------- --------- -------- --------- --------- -------- --------- --------- --------
Net assets 15,497 3,098 18,595 15,480 3,107 18,587 15,173 3,027 18,200
--------- --------- -------- --------- --------- -------- --------- --------- --------
Net asset
value per
share 82.59p 89.82p n/a 82.50p 90.07p n/a 80.86p 87.79p n/a
--------- --------- -------- --------- --------- -------- --------- --------- --------
Results
The Ordinary Share Class made a profit for the quarter of
GBP17,000 equivalent to 0.9p per share which increased the net
asset value ('NAV') per share by that amount.
The B Share Class made a loss for the quarter of GBP9,000
equivalent to (0.25p) per share which reduced the net asset value
('NAV') per share by that amount.
Dividends
At the date of this report the total paid by way of dividends to
Ordinary Class Shareholders is 9.51p per share. There have been no
dividends paid to date to the B Class Shareholders.
On 10 July 2014 the Board of TP5 VCT resolved to pay dividends
of 31.27p per share to Ordinary Class Shareholders and 53.90p per
share to B Class Shareholders. The dividends will be paid on 1
August 2014 to Shareholders on the register at 18 July 2014. The
dividends will be funded from the cash generated from the
realisation of investments on 1 July 2014 as detailed below.
Investment Portfolio
The investment portfolio can be analysed as follows:
Electricity Generation
Anaerobic Total Unquoted
Industry Sector Cinema Digitisation Solar PV Digestion Investments
------------------------- -------------------- ----------- ------------ ---------------
GBP'000 GBP'000 GBP'000 GBP'000
-------------------- ---------------
Investments at 31 March
2014 6,691 7,469 3,079 17,239
-------------------- ---------------
Investments re-valued
during the period - - (1) (1)
-------------------- ---------------
Investments disposed of
during the period - - (3) (3)
-------------------- ----------- ------------ ---------------
Investments at 30 June
2014 6,691 7,469 3,075 17,235
-------------------- ----------- ------------ ---------------
Unquoted Investments % 38.82% 43.34% 17.84% 100.00%
------------------------- -------------------- ----------- ------------ ---------------
On 1 July 2014 after the quarter end GBP6.5m of loans in Cinema
Digitisation companies were redeemed as part of the exit strategy
to return funds to investors as soon as possible after the five
year holding period. The Company continues to hold equity in these
companies.
The Company expects to realise its portfolio of investments over
the coming months in order to return funds to shareholders in line
with the Investment Policy.
Material Events and Transactions
There were no material events or transactions during the
period.
Further Information
For further information, please contact Claire Ainsworth or
Belinda Thomas at Triple Point Investment Management LLP on 0207
201 8989.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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